Ask The Experts: Money Matters

By Mike Miles

Exceeding Roth IRA qualifications

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Q. If, during the course of my federal career, my income (filed either individually or jointly with my spouse) exceeds the maximum allowed under the Roth IRA rules, do I have to convert my Roth to a traditional IRA? Can you maintain an existing Roth regardless of your income?

A. This limit only applies to new money contributions. It does not affect your ability to maintain an existing account.

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